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From: Mild Shock <janburse@fastmail.fm>
Newsgroups: sci.physics
Subject: choice of a foreign functional currency (Was: How To Uninstall your
 Dooms Day Brain)
Date: Sun, 2 Feb 2025 14:55:36 +0100
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Hi,

They are plannig to apply some averaging:

On 1 January 2023, most of the provisions of the
Revised Company Law will come into force. The
resulting changes in tax law now make it clear
that the functional currency is decisive for
tax purposes.

In addition, it is now stated that the taxable profit
in Swiss francs is to be determined at the average
(selling) exchange rate of the relevant financial year
and the taxable capital in Swiss francs at the (selling)
exchange rate prevailing on the balance sheet date.

As a result, balance sheet items translated at historical
rates in the annual financial statements presented in
Swiss francs become irrelevant. While there was
previously a certain degree of discretion in the exchange
rates used, the exchange rates published by the
Federal Tax Administration will now be binding.

https://pestalozzilaw.com/en/insights/news/legal-insights/accounting-and-reporting-foreign-currency-what-are-swiss-tax-implications-foreign-functional-currency/

So basically you have two exchanges rates one
for income, and one for substance.

Mild Shock schrieb:
> 
> Swiss bank or a Swiss National bank is allowed
> to use any currency. You can even file a Tax
> declaration in any currency now.
> 
> They simply don't care anymore about currency.
> I know EUR is possible, maybe BTC is also possible?
> You can use anything that has a market value
> 
> each end of year? See also:
> 
> Corporate Law Reform 2020
> https://pestalozzilaw.com/en/insights/news/legal-insights/accounting-and-reporting-foreign-currency-what-are-swiss-tax-implications-foreign-functional-currency/ 
> 
> 
> Physfitfreak schrieb:
>> What happens to Swiss banks when USA sanctions Dollar and Euro 
>> transactions with Europe. What if BRICS won't accept you in?
>